Three state retirement funds are hoping to consolidate five separate putative class actions against Petroleo Brasileiro SA in New York federal court, arguing that they are the perfect candidates to lead shareholders of the Brazilian-owned oil company through billion-dollar securities litigation following revelations of rampant corruption in September.
Former hedge fund manager Todd Newman on Monday pressed the Second Circuit to deny Manhattan U.S. Attorney Preet Bharara’s request to reconsider a landmark insider trading decision that has cast doubt on the prosecutor’s historic stock-tipping crackdown.
A California appeals court Friday revived a fraud lawsuit by Pacific Bell Telephone Co. retirees against their AIG Financial Advisors Inc. financial adviser, saying a trial court should have held an evidentiary hearing on a disputed arbitration clause before sending the case to arbitration.
A New York federal judge on Friday ordered prosecutors to address whether a Wyoming fund manager's guilty plea in a 2013 insider trading case should stand in light of the Second Circuit's landmark Newman ruling making it harder to secure convictions in such cases.
The founder of defunct packaging company Radnor Holdings Corp. on Monday asked a Delaware bankruptcy court to sanction Radnor’s former counsel Skadden Arps Slate Meagher & Flom LLP, arguing the firm misled the court about its conflicts of interest.
Carl Icahn and several companies that bear his name, including Icahn Partners LP, were hit with a shareholder action Friday alleging they raised up to $94.7 million in short-swing profits from insider trading of put and call options in Herbalife Ltd., Nuance Communications Inc. and Hologic Inc.
An investment adviser sued by the U.S. Securities and Exchange Commission after his depiction in Michael Lewis’ “The Big Short” has appealed a $3 million sanction and industry bar an agency judge handed down over his alleged misconduct in assembling structured products just before the financial crisis.
Investors in Puerto Rico’s cash-strapped electric utility gained ammunition to resist unfavorable restructuring terms when a judge struck down a hostile debt adjustment regime on Friday, but the decision accelerates a fiscal crisis in the commonwealth to the detriment of central government creditors.
Alan Dershowitz was hit with a $7.6 million lawsuit Thursday in Florida state court brought by imprisoned former DHB Industries Inc. CEO David H. Brooks, who claims the noted defense attorney breached an agreement to represent him in the appeal of his insider trading conviction.
A Delaware bankruptcy judge on Monday granted preliminary approval of RadioShack Corp.'s debtor-in-possession financing package, allowing the troubled electronics retailer to tap $10 million in the coming weeks while it proceeds with store closing sales and a deal to sell thousands of locations to Standard General LP.
Oceanwide Holdings could invest as much as $1.6 billion in a San Francisco development project, while Beacon Capital is said to have sold a Bellevue, Washington, development site for $46 million and Madison Realty Capital has reportedly bought a New York residential property for $28 million.
An outside panel commissioned by the International Swaps and Derivatives Association on Monday ruled that no default event occured when Caesars Entertainment Operating Co. failed to pay a group of junior bondholders, dealing a blow to to holders of some $1.7 billion worth of debt insurance contracts.
A New Jersey analyst and sometime-guest on cable television money shows, who also held himself out as a hedge fund broker, was charged Monday with felony larceny and securities fraud for what New York authorities called the theft of $1 million from two investors looking for returns on their retirement nest egg.
Imprisoned former SAC Capital Advisors LP manager Mathew Martoma is seeking to overturn his insider trading conviction in the Second Circuit, arguing in a recent brief that U.S. prosecutors exhibited "racial bias" by dismissing the only Indian-American prospective juror before trial.
Singapore property firm Keppel Land Ltd. has agreed to purchase a central London office building from an Aberdeen Asset Management PLC fund for £91 million ($138 million), the companies announced on Monday.
Apple is adding to its roster of hefty bond offerings with a debut sale in Swiss francs, while investment firm Axiom European Financial Debt has postponed its planned London listing.
Researchers at George Mason University have joined the chorus of those wanting the Financial Industry Regulatory Authority to shelve plans for its Comprehensive Automated Risk Data System, telling the regulator that its project to promote investor protection could end up limiting how customer cash is invested.
Israeli real estate company Azrieli Group said Sunday that it raised 615 million shekels ($158 million) in a bond offer to institutional investors, and hopes to raise 700 million shekels in another public bond offer on Monday.
The liquidation trustee for Bernard Madoff's failed securities firm has given out another $356 million to claimant customers, he announced Monday, pushing total such recoveries from the massive Ponzi scheme above $7 billion.
Harbinger Capital Partners LLC has appealed to a Manhattan federal judge to revisit a bankruptcy court judge's refusal to eliminate a guaranty on $1.7 billion in debt owed to a group of LightSquared Inc. secured lenders — a setback in Harbinger's effort to bring the wireless networking business out of bankruptcy on its terms.